Generally, a gift card was a form of money that could be spent anywhere. Gift cards used to be simple cards, or anything that represented a certain value that could be exchanged for goods or services with lesser or equal values.

Let's take a look at the changes today. This article is going to talk about the different types of gift cards main type, specific categories of gift cards and their functions in Nigeria.

Modern Gift Card with Two Types
In this modern age, basically there are two types of modern gift cards: open loop cards and closed loop cards.

Open loop cards: "Open-loop" is a term commonly used in the gift card industry. An all-purpose charge card that can be used anywhere that brand is accepted, like a Visa gift card, you can use it anywhere that Visa Cards are typically accepted. American Express (AMEx), Discover, and MasterCard are all major credit card companies that offer open loop cards.

Closed loop cards: a closed-loop card also called a single purpose card, they can only be used at a specific retailer or merchant. Like Apple&iTunes gift card, Google play gift card, Steam gift card,etc.

Tips: The open loop card usually has a higher monetary holding capacity than the closed loop cards, which means you can hold more money with an open loop card.

Different Forms of Gift Card
Except that, gift cards always come in different forms. The main forms are listed as below:

Physical Gift Card: To access the gift code, you must scratch the physical copy of the product purchased in a physical store.

E-codes (Electronic Gift Codes): They are gift cards purchased online that are sent to the purchaser's email address.

Scanned Gift Card: A scanned gift card can be purchased online or physically, but they are usually printed on paper. A physical code and an electronic code are intertwined.

You may notice that some modern gift cards can also be the physical gift card or E-codes gift cards, and physical gift cards usually have a higher resale rate than Ecodes if you still have the receipt when reselling the gift card.

Important Types of Gift Cards in Nigeria
Supermarket Gift Card
Online supermarkets and stores accept these gift cards for purchasing merchandise. The most common types of supermarket gift cards include Walmart, eBay, Costco, Best Buy,etc.

Gaming Gift Card
These are gift cards used to make purchases in games and gaming software. Including Google Play, Steam, Razer Gold, Play Station, Roblox, Xbox and Gamestop.

Lifestyle Gift Card
You can purchase lifestyle items with lifestyle gift cards. As with other types of gift cards, they have the same features. Including Sephora, Nordstrom, Nike, JCPenny, footlocker, AMEx, etc.

Streaming Gift Card
Streaming platforms accept these gift cards. Your favorite shows and movies are available through them. Apple iTunes, Amazon Prime, HBO, Netflix, FOX, Showtime are good options.

How to Sell Gift Card Online Instantly
If you have unwanted gift cards to sell, you should consider Tbay. This platform has been verified by some of the world's top media companies such as Yahoo Finance, AP News, Market Watch, and Markets Insider. You can get higher rates and more money.



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Can you recommend sites where I can buy giftcards with crypto?
Sites like buysellvouchers.com supports it but I was wondering if there are other marketplaces to compare rates